SpaceX's valuation soars, how can ordinary investors 'ride along' with Musk's space dream?

SpaceX's valuation is soaring at an astonishing rate. With Starlink surpassing 3 million global users and the continuous progress of Starship test flights, this once "science fiction" company has now become one of the most valuable private tech enterprises in the world. However, for most investors, investing in SpaceX is like gazing at the stars—visible but hard to reach.

Why is SpaceX so attractive to investors?

SpaceX is not just a rocket launch company but an ecosystem spanning space infrastructure, satellite internet, deep-space exploration, and even future Mars colonization. Its core appeal lies in:

Monopolistic technological moat: Reusable rocket technology significantly reduces launch costs, creating a commercial barrier.

Starlink's disruptive potential: Global satellite internet could reshape telecommunications, maritime, aviation, and even geopolitical communication landscapes.

Deep ties with NASA: Multi-billion-dollar long-term government contracts provide stable cash flow.

The Musk effect: The founder's halo and the ecosystem synergy with Tesla and X (formerly Twitter).

Direct investment in SpaceX: Why is it "no way through"?

Unlike Tesla, SpaceX insists on private operations. Musk has publicly stated, "Stay private as long as possible." This means:

No public trading code, making direct trading in Hong Kong or U.S. stocks impossible.

Extremely high investment thresholds, with recent financing mainly targeting top institutional investors.

Extremely poor liquidity; even if shares are obtained through special channels, the realization cycle could take years.

Four "indirect" participation paths for ordinary investors

1. Invest in the "parent company": Tesla's (TSLA) space connection

Although SpaceX operates independently, it is deeply intertwined with Tesla in technology, talent, and even resources. Investing in Tesla is, to some extent, investing in Musk's overall tech vision. But note: this is an indirect link, and Tesla's stock price is more affected by the EV market.

2. Tap into the space industry's "shovel sellers"

Look for listed companies that provide key components or services to SpaceX:

Satellite component suppliers: e.g., L3Harris (LHX), ViaSat (VSAT).

Specialty materials companies: Those providing aerospace-grade composite materials.

Ground receiving equipment providers: Starlink terminal-related supply chain firms.

3. Invest in space-themed ETFs

Examples:

ARKX (ARK Space Exploration & Innovation ETF): Holdings include some SpaceX suppliers.

UFO (Procure Space ETF): Covers global listed space companies.

ROKT (SPDR S&P Aerospace & Defense ETF): Focuses on traditional aerospace.

4. Explore alternative investment channels (for professional investors)

Participate in late-stage private rounds via private equity platforms (minimum thresholds usually start at millions of dollars).

Invest in funds or SPVs (special purpose vehicles) holding SpaceX shares.

Watch for potential future SPAC merger opportunities (though unlikely).

Special opportunities and challenges for Hong Kong investors

As an international financial hub, Hong Kong offers unique advantages:

Advantages:

Access to A-share concept stocks (e.g., China Satellite, Aerospace Electric) via Stock Connect.

International brokerage platforms for trading U.S.-listed ETFs and space industry companies.

Wealth management channels may offer related structured products.

Risk warnings:

Valuation bubble risk: The space industry is still in its infancy, with unproven profit models.

Policy sensitivity: The industry is highly affected by international politics, spectrum regulations, etc.

Technical risks: Rocket launches and satellite deployments may fail.

Liquidity risks: Related ETFs and small-cap companies may lack liquidity.

Future outlook: Starlink IPO's potential opportunity

The market widely expects Starlink to spin off for an IPO between 2025-2027. This could become the most direct opportunity for ordinary investors. Early positioning in related supply chain can be seen as "preheating" investments.

Investment advice: Adopt a "satellite position" mindset

For space investments, the following strategies are recommended:

Small-position testing: No more than 5% of total assets.

Long-term holding: The space industry requires a 5-10 year development cycle.

Diversified allocation: Avoid betting on a single company; use ETFs or portfolio investments.

Continuous learning: Monitor key info like FCC spectrum allocation, NASA contracts, and tech breakthroughs.

Conclusion: Invest in the future, not just a company

Investing in SpaceX is essentially investing in the future of the "space economy." While direct share purchases are difficult, savvy investors have already positioned themselves in this trillion-dollar race via supply chains and thematic ETFs. As Musk said, "Humans should be a multi-planetary species." This space revolution may have just begun, and investment opportunities lie in every technological link of this transformation.

This article does not constitute investment advice. Space industry carries high risks; investors should make cautious decisions based on their risk tolerance. The market has risks; invest with caution.